From capacity building, policy advice, boosting competitiveness, partnerships and strengthening business opportunities, the following regional organisations provide private sector support in the Pacific region.
The Pacific Islands Private Sector Organisation (PIPSO) is the primary private sector body in the Pacific Region. PIPSO is responsible for building the capacity of national private sector organisations, spearheads private and public sector dialogue and partnerships, and provides other necessary assistance to private sector businesses.
An arm of the Pacific Islands Forum Secretariat, Pacific Islands Trade and Invest focuses on export-capable businesses and the international promotion and support of exporters in Pacific Island countries. It is the only Pacific Islands agency tasked to develop, grow and promote industry and the businesses of all 14 Pacific Island countries in export, investment and tourism promotion across international markets.
The Pacific Cooperation Foundation works catalyze the strengthening of New Zealand/Pacific relationships through information and independent commentary, brokering outcomes and developing networks within the Pacific region. The Foundation’s long term vision is a peaceful Pacific region in which New Zealand and Pacific Island communities, regional institutions and governments engage with each other to promote economic growth and social development through mutual understanding and cooperation.
The South Pacific Tourism Organisation (SPTO) is the mandated inter-governmental body for the tourism sector in the South Pacific, with the mission to market and develop tourism in the South Pacific. SPTO organises the South Pacific Tourism Exchange (SPTE), the region’s largest travel and tourism business-to-business event which brings together regional tourism operators and partners (SELLERS) and International tour operators and wholesalers (BUYERS), through a combination of pre-scheduled appointments and networking opportunities.
The Pacific Financial Inclusion Programme is helping low-income households gain access to affordable financial services and financial education. PFIP aims to add one million Pacific Islanders to the formal financial sector by 2019 by spearheading policy and regulatory initiatives, facilitating access to appropriate financial services and delivery channels and by strengthening financial competencies and consumer empowerment.
As a catalyst for private investments, ADB provides direct financial assistance to private sector projects. While ADB’s participation is usually limited, it leverages a large amount of funds from commercial sources to finance these projects. The ADB Office of Public–Private Partnership (OPPP) enables governments of its developing members to secure greater private investment and generate economic growth in the region including through transaction advisory services to developing member clients to develop bankable PPP projects. It also coordinates and supports PPP-related activities in ADB.
Applying a rigorous, diagnostic, yet flexible approach, the ADB Pacific Private Sector Development Initiative (PSDI) works with governments, companies and private sector organizations to improve the enabling business environment in the Pacific. In operation since 2007, PSDI has evolved into a performance-driven technical assistance instrument integrated into Paciﬁc government strategies and programs.
The Pacific Islands Development Bank (PIDB) aims to help accelerate economic and social growth of member countries in the Oceania region. The site provides an overview of the organization’s products, services, and activities, as well as news relating to the bank and member nations consisting of the governments of the Commonwealth of the Northern Mariana Islands, Republic of the Marshall Islands, Republic of Palau, Island of Guam, and the FSM States of Chuuk, Kosrae, Pohnpei, and Yap.
The Asia-Pacific Economic Cooperation (APEC) is “the premier forum for facilitating economic growth, cooperation, trade, and investment in the Asia-Pacific region.” Information includes news, economies of the 21-member countries, a business center, publications, a virtual library, and a database of useful links.
Featured Photo Credit: Damien Sass/UN-OHRLLS